Tax, accounting, auditing news - Journal of Accountancy

September 16, 2015

Special per-diem rates issued for 2015–2016 travel

The IRS issued per-diem rates for use in substantiating business expenses taxpayers incur while traveling away from home.

September 16, 2015

Recruiting environment remains a challenge for finance decision-makers

Finding and retaining high-quality workers is a major obstacle at U.S. businesses, according to the AICPA’s quarterly survey of high-ranking finance professionals in business and industry.

September 16, 2015

Charities would be permitted to issue information returns to donors

Charities will be allowed to file information returns instead of providing contemporaneous written acknowledgment of charitable donations under proposed regulations issued by the IRS.

September 15, 2015

AICPA expresses concerns about tax return preparer legislation

The proposed grant of authority to the IRS to regulate all aspects of tax practice is overly broad, the AICPA said in a letter to the Senate Finance Committee.

September 10, 2015

College students think they manage money well, but they don’t, survey finds

Students may be overconfident about their ability to manage money, a new AICPA survey has found.

September 9, 2015

Proposed rules govern taxation of gifts and bequests from covered expatriates

Proposed regulations under Sec. 2801 would impose a transfer tax on gifts or bequests from covered expatriates made on or after June 17, 2008.

September 9, 2015

More evidence of accelerating growth in accounting and finance salaries

Accounting and finance salaries in the United States are projected to grow 2.4% in 2016, according to a salary guide published this week, up from the 1.2% increase forecasted for 2015.

September 3, 2015

Rise in US accounting salaries accelerates

Starting salaries for U.S. accounting professionals are expected to rise between 4.0% and 5.3% in the coming year, according to a new salary guide from staffing services provider Robert Half.

September 3, 2015

Finance decision-makers less confident in third quarter

Optimism among finance executives is down somewhat, with regulation and talent concerns continuing to top the list of challenges, according to a quarterly AICPA survey.

September 1, 2015

GASB to take a fundamental look at financial statements

The Governmental Accounting Standards Board will review the foundation of the financial reporting model for state and local governments.

September 1, 2015

Employer health plans must cover inpatient hospital and physician services

The IRS added a requirement that employer-sponsored health plan benefits must include substantial coverage of inpatient hospital and physician services for the plan to count as providing minimum value.

September 1, 2015

FASB releases proposed 2016 GAAP taxonomy

The proposed taxonomy contains updates for accounting standards and other recommended improvements to the official taxonomy, which is used by public issuers registered with the SEC.

September 1, 2015

PCAOB reveals focus for inspections of broker-dealer auditors

The PCAOB inspections staff revealed five areas of focus for its 2015 inspections of auditors and brokers and dealers.

September 1, 2015

Changes proposed for CPA exam would enhance higher-order skills testing

The AICPA has proposed changes to the Uniform CPA Examination that are designed to enhance testing of higher-order skills.

August 31, 2015

A principal? Or an agent? FASB proposal aims to clarify

FASB proposed changes to the new revenue recognition standard that are meant to clarify how to determine whether an entity is a principal or an agent in a contract.

August 27, 2015

Use a layered cybersecurity approach to protect crown jewels

Layers of defense should exist in an organization’s systems, with the most sensitive information protected by the most layers.

August 27, 2015

GASB publishes authoritative implementation guidance

GASB published a volume of authoritative implementation guidance that reflects changes resulting from a yearlong feedback process.

August 26, 2015

How internal audit can help manage 10 top technology risks

Internal auditors can play a pivotal role in managing technology risks ranging from cybersecurity to social media. The risks are ranked in a new report that shows how internal audit can help manage them.

August 26, 2015

AICPA releases Q&A on required supplementary information

The AICPA has released new nonauthoritative guidance for auditors regarding their independence responsibilities with respect to required supplementary information in a specific situation.

August 21, 2015

IRS announces delayed due date for new estate basis reporting rules

The IRS issued guidance delaying the due date for compliance with the recently enacted rules that require consistent basis reporting between an estate and anyone acquiring property from the estate.